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The U.S. House of Representatives passed a bill April 18 that would make permanent all of the tax cuts contained in last year's $1.35 trillion tax cut law, including the marginal rate cuts, estate tax repeal and marriage tax relief provisions. The vote was 229 to 198.
The bill was supported by the National Automobile Dealers Association (NADA).
"Because of the Senate's strange rules, the tax cut will expire in nine years," said House Speaker Dennis Hastert (R-Ill.) "The death tax will come back to life. The marriage penalty will be resurrected. The child tax credit will be reduced from $1,000 to $500. Middle-class tax rates will bounce back up. Common sense dictates that we make the Bush [administration] tax cut permanent."
Although the House-passed bill is unlikely to be brought up for Senate floor consideration, Senate Minority Whip Don Nickles (R-Okla.) said, "We [Republicans] will try to make the tax cuts permanent."
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